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October 21st, 2010 at 11:01 am
Phil, Dow 12,000 is a foregone conclusion. They’ve figured out that if the stock market goes up, everyone thinks everything’s ok…because we’ve been trained that way. Think of all the people who do nothing more than go to work, log on, check their 401k, and then put a smile on their face because the markets are up. No turmoil, no unrest, everyone’s just all fine and dandy.
They want market up like that, it will go up like that. why short it. All I’ve done is lose insurance policy after insurance policy trying to protect my little portfolio from the downdraft. I HATE it, it makes me sick to my stomach, but that’s what is happening in the market. It won’t go down because the price to pay for it going down remains too high….wait till after the election.
So, on that happy note, what’s a good long hedge since there’s every chance in the world we go up 200 today? Maybe 11,500 by Friday, 12,000 by the election?
Maybe SSO Nov 42/44 for $1.00 selling the Nov 41 for $1.03?